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Monetary Policy And The Economy In South Africa
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Book Synopsis Monetary Policy and the Economy in South Africa by : M. Ncube
Download or read book Monetary Policy and the Economy in South Africa written by M. Ncube and published by Springer. This book was released on 2013-08-30 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets.
Book Synopsis Monetary Policy, Inflation, and Distributional Impact: South Africa’s Case by : Mr. Ken Miyajima
Download or read book Monetary Policy, Inflation, and Distributional Impact: South Africa’s Case written by Mr. Ken Miyajima and published by International Monetary Fund. This book was released on 2021-03-19 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The South African Reserve Bank has continued to fulfill its constitutional mandate to protect the value of the local currency by keeping inflation low and steady. This paper provides evidence that monetary policy tightening aimed at maintaining low and stable inflation could at the same time reduce consumption inequality over a 12–18 month horizon, commonly understood as the transmission lag of monetary policy action to the real economy, and similar to the distance between survey waves used in the analysis. In response to “exogenous” monetary policy tightening, the real consumption of individuals at lower ends of the consumption distribution declines relatively modestly, or even increases. With greater reliance on government transfers, thus smaller reliance on labor income, and relatively larger food consumption, these individuals appear to benefit mainly from lower inflation. By contrast, the real consumption of individuals at higher ends of the consumption distribution is more likely to decline due to lower labor income, weaker asset price performance, and higher debt service cost.
Book Synopsis Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa by : Alain N. Kabundi
Download or read book Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa written by Alain N. Kabundi and published by International Monetary Fund. This book was released on 2018-07-30 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the key factors that explain the documented decline in the exchange rate pass-through in South Africa over the past two decades, which coincides with the adoption of the inflation-targeting regime. The paper conjectures, in line with the literature, that this outcome is largely due to improved monetary policy credibility. To do this, it first documents the factors that explain monetary policy credibility. Using the standard deviation of individual inflation forecasts as a measure of monetary policy credibility, its shows that the latter is negatively affected by the level of inflation itself, monetary policy uncertainty, and a measure of the unobserved stochastic volatility of inflation. The second phase proceeds by analyzing the determinants of the pass-through using the monetary policy credibility index derived from the first phase. The paper confirms the remarkable achievement that, despite the many shocks that the economy has witnessed, the declining pass-through is indeed explained by the improving monetary policy credibility.
Book Synopsis South African Economic Policy under Democracy by : Janine Aron
Download or read book South African Economic Policy under Democracy written by Janine Aron and published by OUP Oxford. This book was released on 2009-03-19 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa experienced a momentous change of government from the Apartheid regime to its first democratic government in 1994. This book provides an up-to-date and comprehensive assessment of South Africa's economic policies and performance under democracy. The book includes a stand-alone introduction and economic overview, as well as chapters on growth, monetary and exchange rate policy and fiscal policy, on capital flows and trade policy, on investment and industrial and competition policy, on the effect of AIDs in the macroeconomy, and on unemployment, education and inequality and poverty. Each chapter, and the overview chapter in particular, also addresses prospects for the future.
Book Synopsis Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty by : Eliphas Ndou
Download or read book Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty written by Eliphas Ndou and published by Springer. This book was released on 2019-08-13 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.
Download or read book Macroeconomics written by Nicoli Nattrass and published by New Africa Books. This book was released on 2002 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Flows, Credit Markets and Growth in South Africa by : Nombulelo Gumata
Download or read book Capital Flows, Credit Markets and Growth in South Africa written by Nombulelo Gumata and published by Springer Nature. This book was released on 2019-12-11 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the dynamics in capital flows, credit markets and growth in South Africa. The authors explore the role of global economic growth, policy shifts and various economic policy uncertainties. Central banks in advanced economies are engaged in unconventional monetary policy tools such as balance sheet policies, negative interest rates and extended forward guidance to assist them to meet their price, financial and macro-economic stability objectives. This book determines whether BRICS GDP growth is a source of shocks or an amplifier of global growth shocks. The authors find that global economic growth and policy uncertainty reinforce each other via capital flows, credit conditions and business confidence on the domestic economy. Furthermore, they demonstrate that there is momentum in the changes in the spread between the repo rate and federal funds rate. In addition, global real policy rates impact domestic GDP growth and labor market conditions. The authors examine the economic costs of capital flow surges, sudden stops and elevated portfolio volatility shocks and their interaction with GDP growth and credit. They show that equity and debt inflows matter in the attainment of the price stability mandate. Moreover, business confidence transmits sovereign credit ratings upgrades and downgrades shocks to the real economy via GDP growth, the cost of government debt and borrowing to impact credit growth. High GDP growth increases the likelihood of sovereign credit ratings upgrades, hence policymakers should implement pro-growth policies. Inflation regimes impact the transmission of positive nominal demand shocks to the price level. Low and stable inflation (inflation below 4.5 per cent) reduces the pass-through of positive nominal demand shocks to inflation.
Author :Commission of Inquiry into the Monetary System and Monetary Policy in South Africa Publisher : ISBN 13 : Total Pages :444 pages Book Rating :4.F/5 ( download)
Book Synopsis The Monetary System and Monetary Policy in South Africa by : Commission of Inquiry into the Monetary System and Monetary Policy in South Africa
Download or read book The Monetary System and Monetary Policy in South Africa written by Commission of Inquiry into the Monetary System and Monetary Policy in South Africa and published by . This book was released on 1985 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Decline of the South African Economy by : Stuart Jones
Download or read book The Decline of the South African Economy written by Stuart Jones and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa's leading economists adopt within this volume a sectoral approach in their analysis of the drastic changes that have occurred within the South African economy since 1970. The book illustrates how, despite its sophisticated infrastructure, the South African economy has shared in the economic decline - resulting from misguided economic policies - that has been the experience of Sub-Saharan Africa. The contributors argue that the failure of manufacturing to maintain the country's economic growth, once the output of the gold mines began to decline, is central to an understanding of events and outcomes in the economy. Government policy towards manufacturing has played a major part in the decline of the South African economy, but this has, however, tended to be overlooked as a result of the turbulence generated by the political events unfolding in South Africa.
Author :Mr.Jorge I Canales Kriljenko Publisher :International Monetary Fund ISBN 13 :1475510152 Total Pages :36 pages Book Rating :4.4/5 (755 download)
Book Synopsis South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations by : Mr.Jorge I Canales Kriljenko
Download or read book South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations written by Mr.Jorge I Canales Kriljenko and published by International Monetary Fund. This book was released on 2011-08-25 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether a mix of tighter fiscal policy, looser monetary policy, and greater reserve build-up would increase growth and depreciate the rand in real terms. The experience of South Africa over the last twenty years is looked at using a number of econometric techniques that control for the external environment.
Book Synopsis The Oxford Companion to the Economics of South Africa by : Haroon Bhorat
Download or read book The Oxford Companion to the Economics of South Africa written by Haroon Bhorat and published by Oxford University Press, USA. This book was released on 2014 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: 52 entries by leading economists from within and working on South Africa bringing together perspectives on a range of issues: micro, macro, sectoral, country wide and global.
Book Synopsis South Africa by : International Monetary Fund. African Dept.
Download or read book South Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-01-30 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper studies the growth-inflation trade-off of monetary policy in South Africa. The combination of low growth and stubbornly high inflation expectations for a protracted period has complicated monetary policy decisions. The IMF staff analysis contributes to the ongoing growth-inflation trade-off discussion in South Africa, concluding that there is limited growth trade-off of monetary policy efforts to anchor inflation expectations at a lower level at present. The findings in this note suggest that the South African Reserve Bank should continue its efforts of anchoring inflation and inflation expectations at a lower level because monetary policy lends limited support to growth dampened by structural issues. During the 2010s, domestic demand growth responded little to monetary policy action. The environment of weak growth, low interest rates, and relatively moderate inflation (expectations) could have muted monetary policy transmission. Ultimately, the constraints to economic growth need to be removed. Meanwhile, inflation expectations continue to respond to monetary policy action albeit to a lesser extent. Monetary policy transmission through demand has weakened––demand growth does not systematically respond to monetary policy action nor does core inflation––but the exchange rate and credibility channels appear to remain operational.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :276 pages Book Rating :4.3/5 (91 download)
Book Synopsis Impact of Withdrawal and Disinvestment from South Africa on the U.S. Economy by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
Download or read book Impact of Withdrawal and Disinvestment from South Africa on the U.S. Economy written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1985 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Season of Hope written by Alan Hirsch and published by IDRC. This book was released on 2005 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers an insight into the circumstances under which the policies were developed, implemented and reviewed, as well as a study of the outcomes. This book addresses questions such as: How could an organisation with no previous experience of governing accomplish a peaceful transition to democracy? How did they do it and where are they going?
Book Synopsis Everyone’s Guide to the South African Economy by : André Roux
Download or read book Everyone’s Guide to the South African Economy written by André Roux and published by Penguin Random House South Africa. This book was released on 2022-12-01 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recession, inflation, interest rates, income tax, exchange rates, junk bonds … We are bombarded with these terms every day, but what do they actually mean? And how do they affect you? In this updated edition of Everyone’s Guide to the South African Economy, all these issues – and more – are addressed. The book clearly explains and evaluates a wide range of economic occurrences – from the budget and the rand/dollar exchange rate to the balance of payments and the role of the South African Reserve Bank. The book investigates the impact of the 2008/2009 global financial crisis and the COVID pandemic, assesses the state of the sub-Saharan African economy, and explores human development issues in South Africa and their implications for policy-making. If you are baffled by the specialised jargon of economists and bankers and want to know more about the economic forces that subtly dictate your day-to-day existence, Everyone’s Guide to the South African Economy will put you in the picture. This is essential reading for every South African consumer and taxpayer. Economics, after all, is too important to be left to economists.
Book Synopsis The Oxford Handbook of the South African Economy by : Arkebe Oqubay
Download or read book The Oxford Handbook of the South African Economy written by Arkebe Oqubay and published by Oxford University Press. This book was released on 2022-01-20 with total page 1153 pages. Available in PDF, EPUB and Kindle. Book excerpt: While sharing some characteristics with other middle-income countries, South Africa is a country with a unique economic history and distinctive economic features. It is a regional economic powerhouse that plays a significant role, not only in southern Africa and in the continent, but also as a member of BRICS. However, there has been a lack of structural transformation and weak economic growth, and South Africa faces the profound triple challenges of poverty, inequality, and unemployment. Any meaningful debate about economic policies to address these challenges needs to be informed by a deep understanding of historical developments, robust empirical evidence, and rigorous analysis of South Africa's complex economic landscape. This volume seeks to provide a wide-ranging set of original, detailed, and state-of-the-art analytical perspectives that contribute to scientific knowledge as well as to well-informed and productive discourse on the South African economy. While concentrating on the more recent economic issues facing South Africa, the handbook also provides historical and political context. It offers an in-depth examination of strategic issues in the country's key economic sectors, and brings together diverse analytical perspectives.
Book Synopsis The Political Economy of South Africa's Transition by : Jonathan Michie
Download or read book The Political Economy of South Africa's Transition written by Jonathan Michie and published by Steck-Vaughn. This book was released on 1997 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition analyzes and discusses economic policies over a range of macroeconomic and industrial areas which are required to see through the reconstruction and development of the South African economy. It explores the recent history and politics of the processes of economic policy formulation.
